Luxury, high-ticket appliances have become typical in today’s kitchen, new research has discovered.
The popularity of luxury appliances, such as steam ovens, boiling-water taps, warming drawers and wine coolers, has risen steeply over the last 12 months and they are now considered to be standard in kitchens, according to market intelligence company Trend-Monitor’s ‘Kitchen Purchase Behaviour, Consumer Insight Report No.2’.
However, Trend-Monitor argued that the meaning of luxury is changing, with the mindset being less about ‘what I have’ and more about ‘who I am’ and about experiences and status.
“Entertaining at home is at an all-time high,” the report said, “making the kitchen an area of the home where luxury can be conveyed via the environment and the experience rather than the actual products.”
It also claimed that while status used to be about how much money you made, in 2017 it’s about how much money you can give away.
“Apply these values to businesses and there is an expectation that at the luxury end of the market, brands should be giving back as well, in the form of new sustainable/ethical products, or launching campaigns that generate positive social change,” Trend-Monitor said.
It claimed that the smart-appliance market has struggled to live up to the recent hype, but argued that understanding the time-saving elements in these appliances will drive sales at the luxury end of the market.
- Image top: InSinkErator HC3300 steaming hot water tap